Vanguard Group Inc. Purchases 150,503 Shares of Global Payments Inc (NYSE:GPN)

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Vanguard Group Inc. grew its position in Global Payments Inc (NYSE:GPN) by 0.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,087,422 shares of the business services provider’s stock after purchasing an additional 150,503 shares during the quarter. Vanguard Group Inc. owned approximately 10.91% of Global Payments worth $2,736,209,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in shares of Global Payments by 7.0% in the fourth quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock worth $202,756,000 after acquiring an additional 128,466 shares in the last quarter. Cornerstone Advisors Inc. grew its stake in shares of Global Payments by 114.9% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after acquiring an additional 108 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Global Payments by 51.5% in the first quarter. Teacher Retirement System of Texas now owns 3,281 shares of the business services provider’s stock worth $448,000 after acquiring an additional 1,115 shares in the last quarter. TD Asset Management Inc. grew its stake in shares of Global Payments by 6.9% in the first quarter. TD Asset Management Inc. now owns 410,989 shares of the business services provider’s stock worth $56,109,000 after acquiring an additional 26,530 shares in the last quarter. Finally, National Asset Management Inc. acquired a new position in shares of Global Payments in the first quarter worth $211,000.

GPN traded down $0.45 on Thursday, reaching $163.90. The company had a trading volume of 109,795 shares, compared to its average volume of 1,754,977. Global Payments Inc has a 1 year low of $94.81 and a 1 year high of $175.95. The stock has a market capitalization of $26.02 billion, a PE ratio of 31.58, a P/E/G ratio of 1.69 and a beta of 1.02. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 1.20. The stock has a 50-day moving average price of $163.10 and a 200-day moving average price of $152.34.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. Global Payments had a net margin of 13.62% and a return on equity of 20.36%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the company earned $1.29 earnings per share. Global Payments’s quarterly revenue was up 13.4% compared to the same quarter last year. As a group, analysts expect that Global Payments Inc will post 5.82 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Global Payments’s dividend payout ratio is presently 0.77%.

GPN has been the subject of several research reports. Susquehanna Bancshares set a $200.00 price target on shares of Global Payments and gave the stock a “buy” rating in a research note on Friday, July 26th. KeyCorp boosted their price target on shares of Global Payments from $160.00 to $200.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Bank of America boosted their price target on shares of Global Payments from $160.00 to $180.00 and gave the stock a “buy” rating in a research note on Monday, June 17th. Wells Fargo & Co lifted their price objective on shares of Global Payments from $180.00 to $185.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wedbush lifted their price objective on shares of Global Payments from $168.00 to $185.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $168.65.

In other Global Payments news, Director William I. Jacobs sold 10,980 shares of Global Payments stock in a transaction on Monday, September 9th. The shares were sold at an average price of $175.27, for a total value of $1,924,464.60. Following the transaction, the director now directly owns 40,568 shares in the company, valued at $7,110,353.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Guido Francesco Sacchi sold 10,450 shares of Global Payments stock in a transaction on Monday, August 19th. The shares were sold at an average price of $159.44, for a total transaction of $1,666,148.00. Following the completion of the transaction, the executive vice president now owns 47,916 shares in the company, valued at $7,639,727.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,410 shares of company stock worth $5,673,358. 0.88% of the stock is currently owned by company insiders.

Global Payments Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Institutional Ownership by Quarter for Global Payments (NYSE:GPN)

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